On Friday, Kore Potash PLC announced the issuance of a cleansing prospectus for the offering of up to 500 CHESS Depositary Interests (CDIs) at a price of AUD 0.0543 each. The company aims to raise up to AUD 27.15 before expenses through this offer. This move is primarily to facilitate the removal of on-sale restrictions on shares issued during the placement disclosed on November 6, 2024.
The prospectus is prepared in accordance with section 708A(11) of the Australian Corporations Act 2001, which pertains to the regulatory framework for the offering of securities. The full document detailing the prospectus is available for public viewing online, ensuring transparency and compliance with disclosure requirements.
Kore Potash, holding a 97% stake in the Kola and DX Potash Projects in the Republic of Congo's Sintoukola Basin, will make an additional announcement concerning the admission of the 500 CDIs to trading at a later date. This future announcement will provide further details on the trading status of the CDIs.
The information released is in line with the Market Abuse Regulation (MAR), signifying the company's disclosure of inside information as per the regulations established by the European Union, which have been incorporated into UK law. Following this announcement, the previously non-public information is now accessible to the public domain.
The company's Board has approved the release of this announcement, ensuring that corporate governance standards are upheld. Interested parties are directed to Kore Potash's website for further information or to contact the company's representatives directly.
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